Marathon Petroleum Co. (NYSE:MPC) to Issue $0.83 Quarterly Dividend

Marathon Petroleum Co. (NYSE:MPC) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors of record on Thursday, May 16th will be given a dividend of 0.825 per share by the oil and gas company on Monday, June 10th. This represents a $3.30 annualized dividend and a yield of 1.66%.

Marathon Petroleum has raised its dividend by an average of 9.9% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Marathon Petroleum has a dividend payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Marathon Petroleum to earn $17.07 per share next year, which means the company should continue to be able to cover its $3.30 annual dividend with an expected future payout ratio of 19.3%.

Marathon Petroleum Trading Down 0.3 %

NYSE MPC opened at $199.12 on Thursday. The stock has a market capitalization of $71.75 billion, a P/E ratio of 8.46, a P/E/G ratio of 1.62 and a beta of 1.52. Marathon Petroleum has a 52-week low of $104.32 and a 52-week high of $221.11. The firm has a 50-day moving average price of $191.26 and a 200 day moving average price of $166.23. The company has a quick ratio of 1.13, a current ratio of 1.59 and a debt-to-equity ratio of 0.83.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $1.77. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The company had revenue of $36.26 billion during the quarter, compared to analysts’ expectations of $34.90 billion. During the same period last year, the company posted $6.65 earnings per share. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. Equities research analysts expect that Marathon Petroleum will post 20.49 EPS for the current year.

Insider Buying and Selling

In related news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the sale, the director now owns 23,446 shares in the company, valued at $3,994,026.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of research analyst reports. Bank of America increased their target price on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. StockNews.com raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $214.00 to $227.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Raymond James increased their price target on shares of Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 31st. Finally, Barclays increased their price target on shares of Marathon Petroleum from $168.00 to $221.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.77.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.